Playtech moves away from plans to sell Snai amid good trading

Playtech moves away from plans to sell Snai amid good trading

Article brief provided by iGaming Business
  • Daniel O'Boyle, iGaming Business
September 25, 2022 4:15 PM
  • Daniel O'Boyle, iGaming Business
  • Europe

Playtech will put aside any plans to sell off its B2C Snaitech business – at least temporarily – after the business determined that its recent success meant it could deliver more value by remaining part of the group.

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Comments on the subject came from Playtech leadership following the business announcing its H1 results, in which revenue was up 73% year-on-year to €792.3m. Revenue from Snaitech specifically almost tripled to €446.0m.

The supplier had reportedly been considering a break-up of its business, including a sale of the Snaitech arm it acquired in 2018, after plans to sell the entire business fell through. The Playtech board approved an offer from land-based slots giant Aristocrat, but shareholders ultimately rejected this deal.